web analytics
July 23, 2014 / 25 Tammuz, 5774
Israel at War: Operation Protective Edge
 
 
At a Glance
Blogs
Sponsored Post
IDC Advocacy Room IDC Fights War on Another Front

Student Union opens ‘hasbara’ room in effort to fill public diplomacy vacuum.



Three Reasons to Use a Money Manager

Whereas a financial advisor helps you plan your retirement, a money manager, which is often a professional investment firm, handles the day-to-day transactions in your portfolio.
Goldstein 485x300

Are you looking for a diversified portfolio and to have the final say on your investments, but you don’t have time to research the many stocks, bonds, and funds that are out there? If so, it might be time to call your financial advisor and ask him to find you a money manager.

If you already have a financial advisor, why do you need a money manager?

Whereas a financial advisor helps you plan your retirement, a money manager, which is often a professional investment firm, handles the day-to-day transactions in your portfolio. The focus is somewhat different and more specific, and very often both professionals work together.

Here are three reasons why a money manager is useful:

1. Take the headache out of investing

While you may be happy to have more of a say in your investments, you don’t necessarily want the headache that goes along with managing them on a day-to-day basis. In your everyday life, you don’t have the time to sit down and pore over market reports, charts, and other relevant information. And even if you did, unless you are a part of the financial world yourself, you would probably find it hard to interpret them correctly enough to benefit your situation. For this reason, it’s worthwhile to use a money manager, whose extensive knowledge and resources are now at your disposal.

2. A money manager can give you more of a say

A money manager can put your money into an SMA, or separately managed account. Once upon a time SMAs were strictly for the very rich, but they can now be opened with a starting sum beginning at $50,000.

Unlike a mutual fund, where you own a part of the fund controlling your investments, an SMA gives you the opportunity to become an actual owner of the stocks that are in your portfolio. This is more direct, and it gives you more of a say. Directly owning the individual shares (as opposed to owning shares in a mutual fund) can be beneficial when selling for tax purposes.

Learn more about SMAs and if they might be appropriate for you, by watching a short movie.

3. Widen your horizons

The great thing about using money managers is they provide you with greater financial resources than if you were on your own. Many money managers follow a policy of “open architecture,” which means that there can be a wider variety of investment accounts than in the average mutual fund. And with all of the information and expertise at their fingertips, a money manager can help you to build a portfolio that is more tailored to your specific needs, with the right balance for you of large cap or small cap stocks, bonds, or foreign stocks, and more.

To find out whether you need a money manager or an SMA, call your financial advisor today.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning firm located in Jerusalem. He specializes in working with clients in New York, Florida, and Israel and is a licensed financial professional both in the U.S. and Israel. Securities are offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, SIFMA. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Doug’s newest book The Expatriates’ Guide to Handling Money and Taxes is available at www.expatguidetomoney.com. He hosts a weekly finance show, Goldstein on Gelt, on internet radio. Listen live or download podcasts. Toll-free from U.S. 1-888-327-6179, Jerusalem: (02) 624-2788. Follow on Twitter: @DougGoldstein or contact at doug@profile-financial.com.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Three Reasons to Use a Money Manager”

Comments are closed.

SocialTwist Tell-a-Friend

Douglas Goldstein
Current Top Story
The new peace partners; Hams leader Khaleed Meshaal (L) and Palestinian Authority leader Mahmoud Abbas
Khaled Mashaal Rejects Ceasefire and Says Israel Must Disarm for Peace
Latest Blogs Stories
.Into Gaza!

Her message to her soldier son on the battlefield: “Complete the Mission! Sayyem et HaMissimah!”

El AL and Pilot

JoeSettler contemplated some new El Al slogans like: “El Al – Our pilots are trained in evasive maneuvers”…. Let’s hear your new El Al Slogans…

Carmeli

IDF volunteers come to Israel just to serve are the true idealists; Sean Carmeli was one of them.


And he whispers one last time, I love you mother.

It’s absurd, in this war places like Ariel and Shiloh are among the safest in the State of Israel.

Why aren’t American Jews coming s to Israel for the summer; Are they scared because of the war?

If you are lloking to buy socks, this store is NOT where to go! B”H

Ruthie Blum reveals just how hard it is for a Jewish mother to be a patriot at the time of war. Maternal cognitive dissonance On Thursday night, after 10 days of aerial warfare between Hamas terrorists and Israel, Prime Minister Benjamin Netanyahu approved a ground incursion into Gaza. It was a move that much of […]

JoeSettler takes on the IDF Spokesperson’s tweets that he believes are morally wrong and negatively affect the war we are fighting…

The 7 Decisions that changed author Andy Andrews’ life and how they can guide you towards success.

Not asking the world for the right to defend ourselves; such a right is obvious to anyone with a spine.

Where has all the billions of Euros and dollars that have been poured into Gaza over the years gone?

One wishes the PA would distance itself completely from Hamas now for the sake of peace and development in the region.

Israel will never be the underdog, so no defense will be legitimized.

In a war, people die; all Israelis should know that by now.

More Articles from Doug Goldstein, CFP®
Goldstein

The 7 Decisions that changed author Andy Andrews’ life and how they can guide you towards success.

If eligible, are their benefits to claiming Spanish citizenship?

The importance and function of having a dream in building your own success.

An expert discusses the mistakes gamblers make and how to play safely at casinos.

Former hedge fund manager now makes new foods from castoff vegetables, explains how to win war on waste.

Listen to the author of a book about surviving – and even thriving – on a low-income salary.

Is e-commerce the wave of the future?

Doug Goldstein speaks with author Roberta Taylor about how couples need to plan for their retirement.

    Latest Poll

    Israel's Iron Dome Anti-Missile System:





    View Results

    Loading ... Loading ...

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/three-reasons-to-use-a-money-manager/2013/05/23/

Scan this QR code to visit this page online: